WSJ learns that Musk's offer to buy Twitter for $43 billion is being revised

In mid-April, the businessman offered to buy all Twitter shares for $41 billion, and then raised the price to $46.5 billion. He now owns 9.2% of the shares. The board of directors of the company applied the "poison pill"

Twitter is considering an offer from Space X founder Elon Musk to buy the company for $43 billion, according to The Wall Street Journal, citing sources familiar with the discussion.

According to the newspaper, the parties met on April 24 to discuss Musk's offer to buy all of Twitter's shares. This happened after the businessman said that the deal could grow to $46.5 billion.

“Twitter has taken a fresh look at the proposal and is more likely than before to seek negotiations,” the publication reported. However, there are no guarantees.

Twitter may consider Musk's offer on Thursday, April 28, when it releases its first quarter earnings report, the sources said. A spokesman for the company declined to comment to the WSJ.

Twitter uses "poison pill" to protect against Musk ransom

Musk became one of Twitter's largest shareholders in March. He owns 9.2% of the corporation's shares. According to the US Securities and Exchange Commission , the trust he created owns nearly 73.5 million company shares. The cost of such a package at the close of trading on April 1 could be $2.89 billion, wrote BLOOMBERG.

On April 5, Twitter decided to include Elon Musk on the board of directors, but Musk refused. If the founder of Space X accepted the offer, he would not be able to increase the share above 14.9%. The board of directors has adopted a "poison pill" strategy to protect the company from being taken over by one person. The businessman responded with the phrase Love Me Tender (the title of Elvis Presley's song "Love Me Tender", a play on words with tender: a tender offer is an offer to buy a company directly from its shareholders).

WSJ learns about Musk's possible source of funds to buy Twitter

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Already on April 14, Musk offered to buy all Twitter shares for $41.39 billion ($54.20 per share). He explained that the platform should become a platform where the principles of freedom of speech are respected. At the same time, Musk considered that in its current form, Twitter would not be able to serve the public need and democracy. He promised to "reconsider his position as a shareholder" if Twitter did not accept his offer.

On April 21, the businessman said he had secured $46.5 billion in debt financing. Morgan Stanley Senior Funding, Bank of America, Barclays, Mitsubishi UFJ Financial Group, Societe Generale, Mizuho Bank and BNP Paribas provided $25.5 billion in debt financing. The Board of Directors has committed to a thorough due diligence to determine a course of action.

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